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A draft of the South Carolina Retirement System Investment Commission’s investment plan indicates the retirement system will have to commit $750 million to private equity during its next fiscal year to maintain its allocation, according to Feb. 26 meeting materials.

The Waddington Group, a private equity-owned manufacturer of plastic plates, cups and cutlery, is exploring a sale that could value the company at around $1.5 billion, including debt, people familiar with the matter told Reuters.

Warburg Pincus and Hellman & Friedman remain among the most high-profile firms to resist providing investors with a priority return before taking carried interest. Limited partners are not well-served by priority returns, the two firms can argue, but can they hold out much longer?

The proposed sale of German fashion group Bogner has attracted interest from several private equity groups, but at a lower valuation than that initially sought by the owner of the winter clothing specialist, three sources familiar with the deal said.

Blackstone Group LP Chief Executive Stephen Schwarzman took home $690 million in 2014, more than any other private equity executive, as his firm and the wider industry benefited from the favorable conditions for cashing out on investments.

Santa Barbara County Employees’ Retirement System approved an investment plan that calls for $50 million to $70 million of new commitments across six to eight funds in 2015, Investment Officer Eli Martinez said in an email.

A draft of the South Carolina Retirement System Investment Commission’s investment plan indicates the retirement system will have to commit $750 million to private equity during its next fiscal year to maintain its allocation, according to Feb. 26 meeting materials.

TPG Capital LP drew in $6.5 billion in commitments for its first close on TPG Partners VII, its newest flagship fund that offered discounts on management fees for early investors, according to a person familiar with the firm.

ARC Financial Corp, the Calgary-based investor in Canadian oil and gas projects, is approaching a first close on about $800 million for its eighth buyout fund, according to a source familiar with the firm.

Buyers with investment vehicles of $4 billion or more accounted for some two-thirds of transaction volume last year, according to a survey by advisory shop Evercore. The result is based on a survey of more than 70 secondary buyers, including pension funds with a dedicated allocation to secondaries.

Secondary market volume continues to soar as investors get more used to the idea of selling holdings as part of routine portfolio trimming and management. Transaction volume for 2014 nearly doubled from the prior year (see accompanying chart at right).

Cast & Crew Entertainment Services LLC, a private equity-owned company that helps make sure that everyone in Hollywood movie and television crews, from actors to cameramen, gets paid, is exploring a sale, people familiar with the matter told news service Reuters.

Deal News

The Waddington Group, a private equity-owned manufacturer of plastic plates, cups and cutlery, is exploring a sale that could value the company at around $1.5 billion, including debt, people familiar with the matter told Reuters.

Fresh Capital

Santa Barbara County Employees’ Retirement System approved an investment plan that calls for $50 million to $70 million of new commitments across six to eight funds in 2015, Investment Officer Eli Martinez said in an email.

Inside the Deal

In 2006, Hellman & Friedman acquired a minority interest in Artisan Partners, a Wisconsin-based investment management firm. Artisan was organized as a partnership at the time of the investment. Hellman & Friedman and Artisan opted to leave Artisan’s partnership structure in place following the investment rather than converting the company to a C corporation.

Private Eye

A significant percentage of mid-market lenders predict leverage multiples will continue their recent descent while yields will continue to rise in 2015, tossing more cold water on a credit party that sponsors have enjoyed for most of the post-financial-crisis years.